XML 23 R10.htm IDEA: XBRL DOCUMENT v3.19.2

Property and Equipment

6 Months Ended

Jun. 30, 2019

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

Note 4. PROPERTY AND EQUIPMENT

The components of property and equipment at June 30, 2019 and December 31, 2018 consisted of the following:

		June 30,				December 31,
		2019				2018
		(unaudited)
Land		$	300,000			$	300,000
Buildings and Improvements			1,650,000				1,708,000			31.5 years
Machinery and Equipment			12,201,000				11,579,000			5 - 8 years
Finance Lease Machinery and Equipment			6,495,000				6,495,000			5 - 8 years
Tools and Instruments			10,317,000				9,882,000			1.5 - 7 years
Automotive Equipment			177,000				177,000			5 years
Furniture and Fixtures			290,000				303,000			5 - 8 years
Leasehold Improvements			530,000				520,000			Term of Lease
Computers and Software			425,000				425,000			4 - 6 years
Total Property and Equipment			32,385,000				31,389,000
Less: Accumulated Depreciation			(23,985,000	)			(22,612,000	)
Property and Equipment, net		$	8,400,000			$	8,777,000

Depreciation expense for the three months ended June 30, 2019 and 2018 was $760,000 and $722,000, respectively. Depreciation expense for the six months ended June 30, 2019 and 2018 was $1,455,000 and $1,444,000, respectively.

Assets held under financed lease obligations are depreciated over the shorter of their related lease terms or their estimated productive lives. Depreciation of assets under finance leases is included in depreciation expense for 2019 and 2018. Accumulated depreciation on these assets was approximately $5,396,000 and $4,827,000 as of June 30, 2019 and December 31, 2018, respectively.

X

- References

No definition available.

+ Details

Name:	us-gaap_PropertyPlantAndEquipmentAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

+ Details

Name:	us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration